Donald Trump makes big bet on tariffs

donald trump

Not even 24 hours after his party lost a key Wisconsin race and underperformed in Florida, President Donald Trump followed the playbook that has defined his political career: He doubled down.

Trump’s move on Wednesday to place stiff new tariffs on imports from nearly all U.S. trading partners marks an all-in bet by the Republican that his once-fringe economic vision will pay off for Americans. It was the realization of his four decades of advocacy for a protectionist foreign policy and the belief that free trade was forcing the United States into decline as its economy shifted from manufacturing to services.

The tariff announcement was the latest and perhaps boldest manifestation of Trump’s second-term freedom to lead with his instincts after feeling his first turn in the Oval Office was restrained by aides who did not share his worldview. How it shakes out will be a defining judgment on his presidency.

The early reviews have been worrisome.

Financial markets had their worst week since the onset of the COVID-19 pandemic, foreign trade partners retaliated and economists warned that the import taxes may boost inflation and potentially send the U.S. into a recession. It’s now Republican lawmakers who are fretting about their party’s future while Democrats feel newly buoyant over what they see as Trump’s overreach.

He has promised that the taxes on imports will bring about a domestic manufacturing renaissance and help fund an extension of his 2017 tax cuts. He insisted on Thursday as the Dow Jones fell by 1,600 points that things were “going very well” and the economy would “boom,” then spent Friday at the golf course as the index plunged 2,200 more points.

In his first term, Trump’s tariff threats brought world leaders to his door to cut deals. This time, his actions so far have led to steep retaliation from China and promises from European allies to push back.

As Trump struggles with the economy, Democrats are beginning to emerge from the cloud of doom that has consumed their party ever since their election drubbing in November.

They scored a decisive victory in Wisconsin’s high-profile state Supreme Court election on Tuesday, even after Elon Musk and his affiliated groups poured more than $20 million into the contest. New Jersey Sen. Cory Booker then breathed new life into the Democratic resistance by delivering a record 25-hour-long speech on the Senate floor that centered on a call for his party to find its resolve.

___

Republished with permission of the Associated Press.

Associated Press


4 comments

  • Ron Ogden

    April 5, 2025 at 4:12 pm

    “. . .key Wisconsin race and underperformed in Florida. . .”
    Florida races: two Republicans vs. two Democrats. How bad a drubbing did the Republicans take?
    Won both by convincing margins.
    Why would the Associated Press term that an “underperformance?”
    Because that is the agenda of the Associated Press: to try to persuade Americans that Trump is failing.
    Who is failing? The Associated Press is failing.
    “. . .Key Wisconsin race?” Ley to whom? To me? Nope. Key to you? Not likely. Key to who? Key to the Associated Press. Why? Because it supports their agenda.

    Reply

    • Skeptic

      April 5, 2025 at 4:51 pm

      I think the point of the story was that Trump defunded your retirement. But, the comment was loosely based on an agenda, so there is that.

      Reply

    • Ocean Joe

      April 5, 2025 at 7:58 pm

      It was an underperformance by Republicans when compared to both Trump’s and Waltz’s percent wins a few months ago in the same district. 30% dropped to 15% in an overwhelmingly Republican district which means more than a few non-culted Republicans and Independents sent a message which you didnt get.
      Then, in response to Trump’s tariffs, the stock market sent another message, and you seem to be in denial.
      Finally, the Wisconsin race is key because the Supreme Court there can un-gerrymander congressional districts, which has national implications ahead of the 2026 mid-terms. You’re welcome!

      Reply

  • Peachy

    April 5, 2025 at 8:25 pm

    Once again the AP spins the election in Florida. News alert: Demos lost both races that they claimed they had a chance in and throwing millions to attempt and influence the results. Congratulations to The People’s Republic of Wisconsin. Yes Musk threw a bunch of cash, but Wisconsin is soooooooo similar to Illinois and many times a lost cause.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *


#FlaPol

Florida Politics is a statewide, new media platform covering campaigns, elections, government, policy, and lobbying in Florida. This platform and all of its content are owned by Extensive Enterprises Media.

Publisher: Peter Schorsch @PeterSchorschFL

Contributors & reporters: Phil Ammann, Drew Dixon, Roseanne Dunkelberger, Liam Fineout, A.G. Gancarski, Ryan Nicol, Jacob Ogles, Cole Pepper, Andrew Powell, Jesse Scheckner, Janelle Taylor, Drew Wilson, and Mike Wright.

Email: [email protected]
Twitter: @PeterSchorschFL
Phone: (727) 642-3162
Address: 204 37th Avenue North #182
St. Petersburg, Florida 33704